XRP price is mirroring a 2021 bullish chart fractal that preceded a 500% rebound.
XRP (XRP) has made a strong comeback against Bitcoin (BTC), gaining around 30% since July’s "triple bottom." A mix of fundamental and fractal indicators hints that XRP is well-positioned for the gains to continue in the coming months.
The XRP/BTC trading pair has bounced by over 50% after forming a local bottom at around 760 satoshis (1 satoshi = 0.00000001 BTC) at the beginning of June 2024. This low is significant as it aligns closely with the support level that preceded a 500% rally between January and May 2021.
During the 2021 rally, XRP/BTC encountered resistance at its 50-week exponential moving average (50-week EMA; the red wave), resulting in a pullback before continuing its upward momentum. A similar pattern emerged in August 2024, where the pair faced rejection after testing the 50-week EMA.
